Visa Acquires Ripple Partner CurrencyCloud for $925 Million

Visa Acquires Ripple Partner CurrencyCloud for $925 Million

Visa – the leading payment processing company – has completed the acquisition of CurrencyCloud for a whopping 700 million British pounds, worth around $925 million.

  • In a press release from December 20th, the payment processing mogul Visa announced that it had completed the acquisition of CurrencyCloud.
  • The latter is a platform that allows banks and fintech companies to provide foreign exchange solutions for cross-border payments.
  • The acquisition is worth 700 million British pounds or about $925 million, according to the deal that was signed back in July this year.
  • CurrencyCloud also confirmed the news through their Twitter account:
  • Exciting times ahead for Currencycloud as @Visa announce the completion of the acquisition.We look forward to working together to bring greater transparency, flexibility and control for businesses moving money around the world! pic.twitter.com/R5BCYjgGHg— Currencycloud (@Currencycloud) December 22, 2021

  • It’s also worth noting that CurrencyCloud partnered up with Ripple back in July 2020.
  • The focus of this partnership is to process cross-border payments on RippleNet.
  • Source

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